“No such radical change can be made in the currency without seriously disturbing the conditions of trade. I admit that the country is to be congratulated upon the enormous addition suddenly made to its wealth, but it has come too rapidly. There is such a thing as too much gold, just as we have found that there can be too much silver. It cannot be assimilated at such a rate. Values outside of the stock market are showing signs of disturbance. A plethora of money, whether in gold or any other form, must invariably bring enhancement of prices. We have seen it in the stock market; we are beginning to see it in other lines. When it begins to affect standard commodities--the necessaries of life--we shall have a serious state of affairs. The people are hard pushed already. Times are very bad in the ordinary sense. None of this new money is going into the pockets of the masses. It will be no less than a calamity, therefore, if the cost of living is suddenly and unnaturally increased at such a moment. “Pardon me for dwelling upon what may be regarded as the philanthropic side of the question, but in my opinion it is the most important side. To return to the chairman’s suggestion, I agree that the uncertainty of the present situation is its most demoralizing feature. We do not know whence comes this sudden flood of gold; we are ignorant of what still lies at its source. Naturally we are inclined to believe it must be almost exhausted, because no such treasure was ever known to exist in single hands before. But in my opinion it would be very hasty to come to that conclusion. The hand that can pour so vast a sum into the channels of commerce in three short months is not likely to have exhausted its resources. But the great desideratum now is stability and confidence. These can come only of knowledge. A power as great as we know this to be can afford to give us that knowledge, unless its designs are evil. Nay, more, I affirm it solemnly, it is a humane and patriotic duty upon us to remove if possible the unnecessary incubus of uncertainty which is killing trade. This is a matter in which the government is unfortunately powerless to assist. But I do not believe that the man or men in possession of a treasure apparently greater than any ever before in individual control will turn it into an instrument of evil and oppression.” There was no mistaking the bearing and object of the secretary’s remarks, although he had made no personal application of them. The representative of Strong & Co. seemed to be a bit uncomfortable when the custodian of the national Treasury had finished, but he did not attempt to break the somewhat embarrassing pause which followed. The silence was allowed to continue but a moment or two. The president of one of the largest down-town banks, a man of genial, energetic, offhand manner, set forth the real object of the meeting in a few terse, pointed sentences.